American Express Rolls Out Revamped Platinum Card with Increased Fees and New Perks

The American Express Platinum Card has undergone a revamp, with new perks including a $400 dining credit and a $600 hotel credit. The annual fee has increased to $895, but the value of the perks totals around $3,500. The new benefits include a $400 credit for using AmEx's restaurant reservation platform Resy, $300 to use at athletic apparel chain Lululemon, and an increased "digital entertainment credit" of $300. The card's previous perks remain unchanged.

American Express has announced significant updates to its flagship Platinum Card, aimed at high-spending consumers. The new card features an annual fee of $895, a 29% increase from the previous $695 fee. However, the value of the perks has been significantly boosted, with cardholders now able to tap into $3,500 in annual benefits American Express unveils refreshed Platinum card with $895 annual fee, upping the ante in luxury cards^[1].

The refreshed card introduces a range of new perks, including a $400 dining credit through Resy, a popular restaurant reservation platform owned by American Express. Additionally, cardholders can enjoy $300 in credits at Lululemon, a leading athletic apparel chain, and $200 in credits for the Oura Ring, a wellness device. The digital entertainment credit has been increased to $300, covering services like Paramount+, YouTube Premium, and YouTube TV.

Business cardholders will also benefit from the new perks, with $3,500 in annual benefits, including hotel credits and purchase offsets at Dell Technologies and Adobe American Express unveils refreshed Platinum card with $895 annual fee, upping the ante in luxury cards^[1].

Existing cardholders will incur the new, higher annual fee on their renewal dates starting January 2, 2026, for consumer cards, and December 2, 2025, for business cards American Express unveils refreshed Platinum card with $895 annual fee, upping the ante in luxury cards^[1].

The revamped Platinum Card is part of a broader trend among credit card issuers to cater to wealthy consumers. American Express and JPMorgan Chase have been engaged in a competitive arms race to offer the most attractive premium cards. The increased annual fee is a reflection of the growing demand for premium products and the rising cost of card memberships The new Amex Platinum card will cost $895 a year. Here's what it gets you.^[2].